Liberty Mutual Group’s business units are looking to lead a lawsuit against American International Group, according to reports from Business Insurance.

The Boston-based insurer is seeking to step into an ongoing case that had been spearheaded by a pool of AIG’s competitors. The competitors, known as the National Workers Compensation Reinsurance Pool, claimed they were unfairly excluded from a 2007 settlement in which AIG paid states more than $300 million to settle allegations that it underreported workers comp premiums for several decades.

The pool’s suit had been dismissed on Aug. 20 after a judge ruled that the group lacked the standing to sue AIG. Liberty Mutual’s business units are now trying to take the pool’s place as lead plaintiffs.

Meanwhile, AIG filed a countercomplaint that alleges the pool members also underpaid for state’s workers comp – AIG supposedly underreported its figures to get out of paying its fair share of the residual market assessment, it claims that its competitors did so, too.

Liberty Mutual Steps Into Lawsuit Against AIG

by Banker & Tradesman time to read: 1 min
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